<p>Hi.
I didn't know if this would be the correct subforum for my question, so if it is not, please move it.</p>
<p>I have a few questions about the math course track for becoming an actuary.</p>
<p>I will be enrolling at Macaulay Honors at Queens College as a Math Major. I have taken AP Calc BC my senior year of high school and have gotten a 5 on it, but the Macaulay program is making all incoming math majors take a specialized track in math they call the Honors track. This honors track is taught by the head of the math department and during my first semester I will be taking Calc I Honors; my second semester I will be taking Calc II Honors, etc. I want to finish at least two exams if not more during my undergraduate studies, and I need to know what courses I should definitely take before venturing to take the first two exams. Is there a level of calculus that I must know up to, say like Differential Equations, in order to pass the exams? </p>
<p>During my second semester, I plan to add in an Intro to Stats/Probability Course, and I know that a stats/probability course is recommended for the exams. What other courses do I make sure I take?</p>
<p>My school also offers one credit courses for the first few exams, so I'll be sure to take those.</p>
<p>I'm just looking to learn a timeline of when I should expect to take the first exam, the second exam (if I pass the first), etc.</p>
<p>Take a look of the list of things you need to take. The list is self explanatory. A BC calc student that learns the material well should have no problem with the first exam. A college prob/stats course would more than cover Exam 2. I don’t remember what the third actuarial exam is any more-, but I think it is something that a math department might cover. In my day, the divergence from college math came with exam 4 which was Life contingencies. That is purely an actuarial course and you are not likely to find it at collegs that do not have an Actuarial program. My husband took the first three exams, 1,2, 3 without any problem as a math major. He did have to self study for the next two which was as far as he went.</p>
<p>I just took a peek at the list of exams and it looks like they have changed them quite a bit. Far less mathematical, but it also means that you need to take specific courses to cover the material since you need to apply the math to situations rather than know it thoroughly. Queens College seems to offer courses for the exams and you should take them.</p>
<p>Good luck to you. I recommend determining whether the Intro to Prob/Stats has calculus as a pre-requisite. It will help you on your third and higher exams if you take a rigorous Statistics course that has calc as a pre-requisite.</p>
<p>A lot has changed since I took the exams, but the need for a really strong basis in Mathematical Statistics has not changed.</p>
<p>It’s also really helpful to come out of undergraduate school with an exam or two under your belt. Back in the day it was easy to get an entry-level job with no exams, but most employers now expect you to have demonstrated that you can pass at least one.</p>
<p>Thanks so much for the link ingerp!
So pretty much if I take lets say Intro to Micro/Intro to Macro and get a good grade, I will have passed one of the exams?
I’m not quite sure I understand VEE.</p>
<p>No–the exams are separate from the VEE credits. Here’s a quick look at what’s required for ASA/FSA (I’d ignore the CERA for now): [Associate</a> of the Society of Actuaries (ASA) - Requirements](<a href=“http://www.soa.org/education/exam-req/edu-asa-req.aspx]Associate”>Associate of the Society of Actuaries (ASA) | SOA). It’s all gotten much more complicated than it used to be. Back in the day, there were 10 exams–after 5 you were an ASA, after 10 you were an FSA. Now there are different tracks, e-learning courses, research projects, and professionalism courses. (And they added a continuing education requirement for all credentialed actuaries last year–fun!)</p>
<p>Yeah, it takes an actuary to figure out how to become an actuary.</p>
<p>My wife has been through so many changes in the process since passing her first exam in 1987. She will sit next year, once again, for the last one. Stick with it.</p>
<p>Oh I think I get it. So to get ASA ‘approval’, you must do the five exams, plus three VEE credit tracks, the e-learning course and the professionalism course?</p>
<p>Which of these are best to complete during my undergraduate education if not all of them? I will definitely complete the VEE tracks.</p>
<p>One piece of advice: Also, look into the track for the Casualty Actuarial Society (casact.org). They share a few of the first exams with the Society of Actuaries, but then your career diverges with a different set of upper level exams. I had an internship in both and was able to have a good idea about both types of careers.</p>
<p>Casualty is for things–homes, cars, boats. SOA accreditation is for people–life, health, pension. I’d focus on the VEE courses for now. If you can manage one or two exams before you’re out of school (I assume most people start with Probability or Financial Mathematics), that’d be great. The exams have gotten increasingly expensive over the years (particularly the upper level ones), but there is a student discount if you’re a full-time college student.</p>
<p>Keep in mind that after you’re out of school, your employer will be paying your exam fees. You’ll also get some on-the-job study time, although the amount varies widely by company. There are a number of very good prep courses for the upper-level exams that your employer will also likely pay for.</p>
<p>It is a challenging process that <obviously> not many people are up to. But it is an awesome profession. Full of ethical, smart people who will always have a job.</obviously></p>
<p>If your school offers credit courses to prep for exams then I assume there’s some type of Actuarial Club there. They should be able to explain what the best classes to take are and what the general exam process is.</p>
<p>From what I’ve read, the profession is a bit over-saturated right now, and it’s not always easy to get a job even if you’ve passed several exams. The sites promoting being an actuary paint a rosy picture, but some of the forums attached to those sites blame the promotion for the competition.</p>
<p>I also have another question- I know that to get a job, you must have to pass at least one exam and have some internship experience. When should I begin interning? Should it be the summer after freshman year?</p>
<p>Competition will be tough as a freshman. But connecting with the career services office and joining the actuarial science club should help with your interviewing and resume writing skills, and will give you additional knowledge about the profession. Over the years, I would say that 75% of interns I have worked with had completed junior year and 25% had completed sophomore year. I have also worked with co-op kids, who generally had completed 2 years of college.</p>